Rivian Merger Rumors!

I bought a starter position in this today on the rumors that IPOF will be merging with Rivian, the second most high profile EV company behind Tesla & part owned by Amazon. I understand that this may be completely bogus, but the risk in this is ultimately capped at about 80c as it will be redeemable in cash if nothing happens. Seems like a massively asymmetric risk / reward opportunity.